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The journalist goes on to balance the story with a critical comparison between their ratings approach and more established western versions.
* The prime problem with small business is slow or declining sales, and is worse today (by six points) than last year, which was the so-called "formal" bottom of the recession. Access to credit is the prime problem in only 8% of small businesses.
* 38% of small businesses are using credit cards as a funding mechanism (!!!) At today's pricing this is suicidal. If this number indicates those small business who have effectively been forced into this use of credit (and I suspect it is) we're in deep kimchee - nearly 4 in 10 small businesses are likely to fail in the next two to three years as a consequence of this.
* Far too many (11%) small business owners are collateralizing real estate as a means of funding operations. If I'm reading this report right, these are businesses where the owner has pledged his or her personal residence as security.
Exports and imports up sharply in May, but subpar recovery in U.S. fuels longer-term concerns
Call of duty you have no clue, the deficit or suplus is on a month to month basis has no reflection on jobs. The fact we are exporting more and consuming more means that we will create more jobs. Expect the employment situation to improve, at least from were the bears are forecasting.
Im getting wealthier so are the 250000 million canadians that have found work, all that was forecast-able from data I have commented on 8 months ago. Dont you get tired of crying wolf?
Expect the employment situation to improve
U.S. Trade Gap Hits 18-Month High
The U.S. trade deficit took an unexpected jump in May, hitting an 18-month high and imperiling economic recovery in the latter half of the year, the U.S. Commerce Department announced Tuesday.
Largely due to increased demand for foreign-made cars, computers and industrial machinery, the trade deficit rose to $42.3 billion in May, a 4.8 percent increase. The trade deficit was expected to narrow to $39 billion for the month.
Overall the trade deficit is running at an annual pace of $474.8 billion, which would be a 26.6 percent increase from the previous year. Last year the trade deficit totaled $374.9 billion, the lowest recorded since 2001 during yet another recession.
The trade deficit with China increased 15.4 percent in May, jumping to $22.3 billion. Thus far this year, the trade deficit with China is up 10.2 percent compared with a year ago.
The trade deficit with the European Union also increased, climbing 7.5 percent to $6.2 billion. The increase in the trade deficit with the EU was largely due to the fact that the Euro has lost value on the dollar because of the European debt crisis.
The trade deficit with Mexico increased to $6.15 billion.
The economic outlook had softened somewhat and a number of members saw the risks to the outlook as having shifted to the downside...
Mr. Hoenig dissented because he believed that, as the economy completed its first year of modest recovery, it was no longer advisable to indicate that economic and financial conditions were likely to warrant “exceptionally low levels of the federal funds rate for an extended period.” Although risks to the forecast remained, Mr. Hoenig was concerned that communicating such an expectation would limit the Committee’s flexibility to begin raising rates modestly in a timely fashion and could result in a buildup of future financial imbalances and increase the risks to longer-run macroeconomic and financial stability.
...The US bank booked net income of $4.8bn (£3.1bn), up from $2.7bn in the same period last year, a rise of more than 75%.
The bulk of the $2.1bn improvement came courtesy of a $1.5bn reduction in the amount of money the bank must set aside for possible loan losses.
JP Morgan's share price fell 1.9% in early trading, in spite of the profits.
Bank stocks were hit by poor economic news from the US...
The Manhattan-based bank also said it incurred a charge of $550m for the quarter, to cover the UK's new 50% bonus tax...
Stocks: Fall On Strong Yen, Worries About U.S. Economy
TOKYO (Kyodo)--Tokyo stocks fell Friday morning as a strong yen hurt exporter shares amid investor worries about the strength of the U.S. economic recovery.